翻译协议遇到一个条款叫“EMIR NFC Representation”，求EMIR NFC是啥缩写？上文也没出现全称。。。

EMIR，全称为：European Market Infrastructure Regulation，中文为《欧洲市场基础设施监管规则》。

EMER, European Market Infrastructure Regulation, in Chinese: European Rules for the Regulation of Market Infrastructure.

EMIR是欧盟立法的一部分，于2012年7月制定颁布。EMIR规则是欧盟为提高场外衍生品市场的稳定性所做出的努力。EMIR旨在增强场外衍生品市场交易的透明性和降低交易对手的信用风险，适用于欧洲及非欧洲金融机构及公司。

EMI is part of the EU legislation, which was enacted in July 2012. The EMER rules are part of the EU’s efforts to improve the stability of the off-site derivatives market. EMER aims to increase transparency in the off-site derivatives market and to reduce the credit risk of traders, applying to European and non-European financial institutions and companies.

EMIR要求相关机构把场外衍生品交易合约的详细信息报告给交易登记机构和监管当局，并引入严格的规章制度以确保中央对手方能够按照行业标准谨慎操作。美国也制定了相似的法规Dodd-Frank即《多德-弗兰克法案》，并且提出了更多的要求和义务。Dodd-Frank不仅直接适用于几乎所有的欧盟成员国机构，而且适用于与欧盟交易对手进行衍生品贸易的非欧盟金融机构及公司，或是对欧盟市场产生直接、有实质意义且可预测影响的非欧盟金融机构及公司之间的贸易。

The United States has similar regulations, Dodd-Frank, the Dodd-Frank Act, and has additional requirements and obligations. Dodd-Frank applies not only directly to almost all EU member state institutions, but also to non-EU financial institutions and companies trading derivatives with their European Union counterparts, or to trade between non-EU financial institutions and companies that have a direct, substantial and predictable impact on the EU market.

EMIR主要规定了资本与市场保证金制度，集中清算，交易报告与其他双边风险管理四个方面的责任：

The EMR primarily provides for a system of capital and market deposits, centralized liquidation, transaction reporting and responsibility for four aspects of other bilateral risk management:

---资本与市场保证金制度指的是场外衍生产品的资本费用及保证金的要求更高，实行按市场定价或按模型定价制度并及时进行交易确认。

- Capital and market bond systems refer to higher capital costs and bonds for off-site derivatives, market-based or model-based pricing systems and timely transaction recognition.

---集中清算要求场外衍生产品需通过已授权或注册的CCP清算。

- Centralization requires off-site derivatives to be liquidated through the authorized or registered CCP.

---交易报告要求场外交易和场内交易金融衍生产品需向已注册的交易数据存管中心报告且需要涵盖抵押及风险暴露信息。

- The transaction reports require off-site transactions and financial derivatives of on-site transactions to be reported to the registered transaction data repository and to cover collateral and risk exposure information.

---其他双边风险管理包括投资组合压缩、投资组合和解及争议解决。

- Other bilateral risk management includes portfolio compression, portfolio reconciliation and dispute resolution.

NFC，全称为Non-financial counterparties，即 “非金融交易对手 ”。NFC属于EMIR义务的适用对象之一。除NFC以外，EMIR义务还适用于第三方国家、及金融交易对手。中国就属于第三方国家范畴，如中国的银行、大型金融机构、涉及高级别衍生品交易的机构及与欧盟交易对手进行衍生品交易的中国企业都应适用EMIR义务。若不适用EMIR的中国机构与EMIR义务下的交易对手进行交易，则仍需遵守部分EMIR的规定及要求。

With the exception of NFC, the obligation applies to third-party countries, as well as to counterparts in financial transactions. China is a third-party country, such as banks, large-scale financial institutions, institutions involved in high-level derivatives transactions, and Chinese enterprises trading in derivatives with their European Union counterparts.

EMIR主要以欧洲市场主体为抓手来实现EMIR的跨境适用，非欧盟市场参与者对于2013年起推广适用的《ISDA EMIR NFC声明议定书》(ISDA EMIR NFC Representation Protocol)也不陌生，这一文件要求市场上体(包括非欧盟主体)应当参照EMIR的分类方式(FC、NFC+或NFC-)进行自我评估，并向交易对手做出声明，从而协助受EMIR直接监管的欧洲主体能够有区分地适用EMIR的主要监管要求(包括但不限于清算要求、报告要求及适用于非清算型交易的风险缓释要求)。

The EMR is primarily based on European market subjects to achieve the cross-border application of EMER, and the non-EU market participants are also familiar with the ISDA EMER NFC Declaration Protocol (ISDA EMER NFC Representation Protocol), which has been applied since 2013, requiring that market players (including non-EU subjects) conduct self-assessments by reference to EMER classifications (FC, NFC+ or NFC-) and make statements to their counterpart, thus assisting European subjects directly regulated by EMER to apply the main EMER regulatory requirements (including, but not limited to, liquidation requirements, reporting requirements and risk relief requirements applicable to non-liquid transactions).

解释到这里，你题干中的项目条款名称即可直接翻译为：EMIR非金融交易对手陈述，或者更直接一点，EMIR NFC陈述。都是没有问题的。因为这两个缩写在业内是非常熟悉的表达。直接用即可。

To explain this, the title of the item you're working on can be translated directly into: EMI non-financial transactions counterpart statements, or, more directly, EMI NFC statements. There are no problems. Because the acronyms are very familiar.